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Franziska Zimmermann

Swiss lawyer Franziska Zimmermann may have been in Singapore for only 18 months, but she talked as if she has been staying in Singapore since birth and even found fit to lecture Singaporeans!

In an interview conducted by the Straits Times on expatriates working in Singapore, 37 year old Ms Zimmermann felt that Singaporeans are generally friendly to foreigners though some harbor anti-foreigner sentiments, that is to be expected.

This anti-foreigner issue is in every city. Its a natural debate and the Swiss are questioning it too. But no one owes anyone else a living; you cannot say you are entitled to jobs in your country, she says.

Her colleague Ms. Elouisa Dalli added that she is aware that Singaporeans worry about a growing divide between the cosmopolitan rich like her she brags, and lower-income heartlanders, but praises Singapore as a society where opportunities remain open to all.

Everyone in Singapore, regardless of his social background, has the same access to the MRT, education, safety and job opportunities. Only if these opportunities are available only to the top in society that you have a true divide, she was quoted as saying.

The insensitive and downright stupid statements by the arrogant ladies, Zimmerman and Dalli, are not only insulting to Singaporeans, but are harmful to the two ladies and even more so to Syngenta, the company for which they both work.

Ms. Zimmerman is Manager, Public Affairs Asia-Pacific at Syngenta Asia Pacific Pte. Ltd. It is unforgivable that a manager of public affairs would make such an inappropriate comment about the guest country, Singapore, where she is working.

Elouisa Dalli is Media & Community Relations Manager, for Syngenta. She is supposed to generate good publicity for Syngenta, but has done exactly the opposite.

Franziska Zimmermann and Elouisa Dalli are not qualified for their jobs as they are insensitive to public affairs or community relations. In both these areas they have only damaged not only their own reputations, but Syngentas as well.

See the rest here:
Swiss expats say Singaporeans not entitled to jobs in Singapore

Expats are likely to be seriously affected by the Air Passenger Duty (APD) rises from next month, with the announcement of an extra eight per cent fee in two weeks' time and further increases due in 2013

Frequent flyers and expats will be hit by increased APD from April 1 2012, with rates set to increase by inflation from April 1 2013 as well. Chancellor George Osborne expects to collect 2.2billion from APD revenue in 2011/2012, rising to 3.9billion by 2016/2017.

Expats say not only do high passenger duties put them off returning to the UK for personal or professional visits, they also encourage people to look for new routes through Europe (Chicago Options: ^REURUSD - news) to reduce flight fees.

"If you fly, say, Business Class from Dubai with the family, the taxes and fees alone are more than 2,000," said Telegraph Expat blogger Annabel Kantaria. "I ask myself, 'Do I really want to go to the UK that badly?' and the answer is often no.

"This year we're flying into Spain, where the taxes and fees are a lot lower, then taking a cheap European flight over to UK in economy class, which also has much lower taxes than flying in from Dubai in Business Class."

Reuven Levitt, CEO of Tripbase.com , says it's time to get smart with your flight bookings. "Fly into the UK but on your return flight go indirect and include a stopover in Europe, preferably out from a regional airport in the UK," he said. "Business Class passengers flying Economy for one of the legs should ensure they rough it on their return flight rather than the inbound. Frequent flyers are also better off taking their chances with a last-minute upgrade rather than booking a Business Class seat in advance to avoid the higher Business Class fees."

ABTA, the body representing 1,300 members from the travel industry, said the news was "a further hammer blow to the industry".

The Chancellors confirmation that he intends to go ahead with double inflationary rise in APD on April 1, together with a further increase in 2013, is incredibly disappointing," said chief executive Mark Tanzer. "The Government has repeatedly said it looks to travel and tourism as one of its key drivers of growth but instead of listening to concerns that APD is stunting this growth, not only in travel but in the wider economy too, it has chosen to significantly increase the tax burden.

Airlines also oppose the tax increase, with the chief executives of easyJet, Ryanair, Virgin Atlantic and British Airways (Other OTC: BABWF.PK - news) -owner International Airlines Group teaming up in a joint-response, saying that APD had "no international parallel" anywhere else in the world. Currently, only five European countries levy any form of aviation tax and the UK's rate is already the highest.

The Airport Operators Association said it was "dismayed" at the APD decision, while airline chiefs described APD as a "job-destroying tax". The rise in APD come at a time when Emissions Trading Scheme (ETS), an environmental tax on aviation, is being introduced but the Government has not announced any plans to offset the revenue raised from the ETS against APD.

See the original post:
Budget 2012: expats hit in the pocket by APD

Dublin - Research and Markets (http://www.researchandmarkets.com/research/430f5edc/brazil_tax_law_an) has announced the addition of the "Brazil Tax, Law and Business Briefing - Newly Revised Sixth Edition" book to their offering.

Thomson Reuters, the world's leading source of intelligent information for businesses and professionals, has published a Sixth Edition of its special corporate report, Brazil Tax, Law and Business Briefing through its WorldTrade Executive (WTE) brand, a Tax and Accounting Business.

The Report provides key legal and tax considerations for investors as they evaluate possible transactions in Brazil, such as acquiring or launching a business or entering into a joint venture or strategic alliance. Contributors to the Report include senior experts at major accounting and law firms in the region.

Brazil's regulations on worldwide income taxation, transfer pricing and, more recently, thin capitalization rules provide challenges for businesses operating in the region, according to the Report, said Gary Brown, Senior Director at WTE/Thomson Reuters. The Report illuminates the nuances of Brazil's tax code based on the insights of advisors who understand them.

Coverage Includes:

- Summary of Brazil's thin capitalization rules

- How to deal with tax audits and tax litigation

- Brazil's anti-avoidance rules

- A new list of tax havens issued by the Brazilian Tax Authorities

- Planning opportunities using treaties.

Read the original here:
Research and Markets: Brazil Tax, Law and Business Briefing - Newly Revised Sixth 2012 Edition

MUMBAI (Reuters) - A new tax proposal by the government could hurt flows of anonymous foreign funds into shares, analysts said on Monday, dealing another blow to equity markets that have been buffeted by worries about slowing corporate earnings growth and stymied economic reforms.

Investments into Indian stock markets through participatory notes, or P-notes, is seen slowing if the government introduces the so-called General Anti-Avoidance Rule (GAAR) next month, they said.

Finance Minister Pranab Mukherjee in his budget presented on March 16 for the year starting on April 1 proposed to introduce the GAAR in order to "counter aggressive tax avoidance schemes." He said it would be ensured it was used in appropriate cases.

P-notes are issued by foreign portfolio investors registered with the SEBI, or by their sub-accounts, to investors overseas and they offer the buyer anonymity.

"P-notes generally avoid paying taxes in India and because of this GAAR the taxation of P-notes can definitely get impacted," said Sunil Jain, a tax expert with law firm J. Sagar Associates.

"If there is an adverse impact on the taxability of P-notes because of the wide power assumed by the government through GAAR, then obviously it can impact investments through P-notes and therefore general sentiment in the market," he said.

The BSE Sensex ended 1.8 percent lower on Monday hit by the uncertainty about the tax proposal, dealers said. The index fell nearly 2 percent during the day.

The benchmark index has fallen nearly 4 percent this month, after rising 15 percent in the first two months of this year on strong foreign fund inflows.

"We do not have clarity on the exact modalities, but this could have the effect of shutting down the P-note to invest in India," said Macquarie in an email to clients seen by Reuters, referring to the GAAR proposal.

The brokerage said stocks bought through participatory notes could be subject to short-term capital gains tax of 42 percent and long-term capital gains tax of 21 percent as a result of the new taxation proposals.

The rest is here:
GAAR tax proposal clouds foreign portfolio investment outlook

Shares of Singapore's oil and gas services firm See Hup Seng Ltd rose as much as 11.4 percent after it acquired a minority stake in an offshore drilling company.

See Hup Seng's shares were 6.8 percent higher at S$0.235 with more than 13.6 million shares traded, 4.3 times the average daily volume traded over the last five sessions.

"The company's expansion into offshore and drilling has attracted investors. Oil prices have been on a strong trend up so the oil sector is still considered lucrative," said a trader.

See Hup Seng, which mainly provides corrosion prevention services to customers in the oil and gas industry, said on Friday it will spend $10 million to acquire a minority stake in Energy Drilling Pte Ltd.

Related story: http://link.reuters.com/mym37s

1012 (0212 GMT)

(Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com)

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10:06 STOCKS NEWS ASEAN-Hiap Hoe jumps on takeover talk

Shares of Singapore's property firm Hiap Hoe Ltd jumped as much as 12.7 percent on strong volume on market talk the firm could be a takeover target due to its attractive valuations and potential earnings growth, traders said.

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STOCKS NEWS SINGAPORE-See Hup Seng up on offshore drilling acquisition